AE Wealth Management LLC Boosts Stock Position in Principal Financial Group, Inc. $PFG

AE Wealth Management LLC increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,695 shares of the company’s stock after acquiring an additional 13,795 shares during the period. AE Wealth Management LLC owned about 0.08% of Principal Financial Group worth $14,152,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Principal Financial Group in the first quarter valued at approximately $244,000. NewEdge Advisors LLC lifted its holdings in Principal Financial Group by 24.1% during the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after buying an additional 1,455 shares in the last quarter. Empowered Funds LLC boosted its position in Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock valued at $395,000 after buying an additional 497 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in shares of Principal Financial Group by 3.0% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 112,590 shares of the company’s stock worth $8,943,000 after acquiring an additional 3,272 shares in the last quarter. Finally, DMKC Advisory Services LLC increased its position in shares of Principal Financial Group by 31.5% during the second quarter. DMKC Advisory Services LLC now owns 78,584 shares of the company’s stock worth $6,363,000 after acquiring an additional 18,832 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Principal Financial Group

In other news, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total transaction of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares in the company, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Deanna D. Strable-Soethout sold 8,025 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $92.56, for a total transaction of $742,794.00. Following the completion of the sale, the chief executive officer owned 54,227 shares of the company’s stock, valued at approximately $5,019,251.12. This trade represents a 12.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 10,212 shares of company stock worth $931,014. 1.08% of the stock is currently owned by corporate insiders.

Principal Financial Group Trading Up 0.8%

NYSE PFG opened at $94.76 on Friday. The firm’s fifty day moving average price is $89.04 and its 200 day moving average price is $83.57. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $95.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the firm earned $2.05 earnings per share. On average, sell-side analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on PFG shares. Keefe, Bruyette & Woods boosted their target price on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 price objective on shares of Principal Financial Group in a research report on Monday, January 5th. Evercore ISI upped their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. Barclays reiterated an “underweight” rating and issued a $85.00 price target on shares of Principal Financial Group in a research note on Thursday, January 8th. Finally, Piper Sandler increased their price objective on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $92.88.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.